The United Kingdom ranked 6/197 by economy size with a GDP of $3.64T and 23/197 by GDP per capita at $52,637. The United Kingdom has $3.69T in government debt, with a debt-to-GDP ratio of 103.9%.
In 2025, the United Kingdom made up 3.28% of the world's economy, compared to 5.36% in 1960.
The chart below shows GDP in nominal terms, GDP adjusted for inflation (in constant dollars), and a bar chart of year-over-year inflation-adjusted growth.
| Year | GDP | GDP growth | |
|---|---|---|---|
| Current $ | Constant $ | ||
| 1960 | $73,233,967,692 | $793,127,688,244 | - |
| 1961 | $77,741,965,703 | $814,552,559,055 | 6.16% |
| 1962 | $81,247,564,157 | $823,502,017,571 | 4.51% |
| 1963 | $86,561,961,812 | $863,520,470,098 | 6.54% |
| 1964 | $94,407,558,351 | $911,832,808,560 | 9.06% |
| 1965 | $101,824,755,079 | $931,257,884,730 | 7.86% |
| 1966 | $108,572,752,102 | $945,854,883,422 | 6.63% |
| 1967 | $113,116,888,211 | $972,109,334,166 | 4.19% |
| 1968 | $107,759,910,068 | $1,025,309,894,085 | -4.74% |
| 1969 | $116,464,702,803 | $1,045,192,065,288 | 8.08% |
| 1970 | $130,671,946,244 | $1,073,501,944,593 | 12.2% |
| 1971 | $148,113,896,325 | $1,111,125,153,878 | 13.3% |
| 1972 | $169,965,034,965 | $1,159,144,290,116 | 14.8% |
| 1973 | $192,537,971,583 | $1,234,765,106,761 | 13.3% |
| 1974 | $206,131,369,799 | $1,204,088,552,401 | 7.06% |
| 1975 | $241,756,637,168 | $1,186,344,508,063 | 17.3% |
| 1976 | $232,614,555,256 | $1,220,870,290,415 | -3.78% |
| 1977 | $263,066,457,352 | $1,250,876,235,526 | 13.1% |
| 1978 | $335,883,029,722 | $1,303,466,331,520 | 27.7% |
| 1979 | $438,994,070,309 | $1,352,333,501,334 | 30.7% |
| 1980 | $564,947,710,899 | $1,324,862,634,143 | 28.7% |
| 1981 | $540,765,675,241 | $1,314,426,109,939 | -4.28% |
| 1982 | $515,048,916,841 | $1,340,647,481,093 | -4.76% |
| 1983 | $489,618,008,186 | $1,397,247,691,631 | -4.94% |
| 1984 | $461,487,097,632 | $1,428,952,711,498 | -5.75% |
| 1985 | $489,285,164,271 | $1,488,217,310,719 | 6.02% |
| 1986 | $601,452,653,181 | $1,535,101,225,015 | 22.9% |
| 1987 | $745,162,608,269 | $1,617,885,217,057 | 23.9% |
| 1988 | $910,122,732,124 | $1,710,629,088,853 | 22.1% |
| 1989 | $926,884,816,754 | $1,754,722,312,652 | 1.84% |
| 1990 | $1,093,169,389,205 | $1,767,597,683,606 | 17.9% |
| 1991 | $1,142,797,178,131 | $1,748,098,930,593 | 4.54% |
| 1992 | $1,179,659,529,660 | $1,755,110,242,246 | 3.23% |
| 1993 | $1,061,388,722,256 | $1,798,809,519,900 | -10% |
| 1994 | $1,140,489,745,944 | $1,867,991,899,167 | 7.45% |
| 1995 | $1,344,240,176,740 | $1,915,283,289,782 | 17.9% |
| 1996 | $1,419,645,865,835 | $1,964,735,787,017 | 5.61% |
| 1997 | $1,560,911,918,795 | $2,061,492,114,548 | 9.95% |
| 1998 | $1,653,694,932,097 | $2,131,637,645,608 | 5.94% |
| 1999 | $1,687,830,448,148 | $2,196,830,015,765 | 2.06% |
| 2000 | $1,665,534,876,683 | $2,292,208,338,884 | -1.32% |
| 2001 | $1,649,827,263,567 | $2,351,181,826,663 | -0.94% |
| 2002 | $1,785,729,916,067 | $2,393,401,075,664 | 8.24% |
| 2003 | $2,054,422,857,143 | $2,468,849,371,154 | 15% |
| 2004 | $2,421,525,082,387 | $2,529,531,329,418 | 17.9% |
| 2005 | $2,543,180,000,000 | $2,598,654,839,641 | 5.02% |
| 2006 | $2,708,441,582,337 | $2,660,520,860,407 | 6.5% |
| 2007 | $3,090,510,204,082 | $2,730,356,339,128 | 14.1% |
| 2008 | $2,929,411,764,706 | $2,723,563,287,348 | -5.21% |
| 2009 | $2,412,840,006,232 | $2,597,719,582,893 | -17.6% |
| 2010 | $2,485,482,596,185 | $2,655,734,846,286 | 3.01% |
| 2011 | $2,663,805,834,828 | $2,685,966,733,177 | 7.17% |
| 2012 | $2,707,089,726,615 | $2,726,497,926,773 | 1.62% |
| 2013 | $2,784,853,502,534 | $2,775,572,749,073 | 2.87% |
| 2014 | $3,064,708,247,921 | $2,864,242,231,942 | 10% |
| 2015 | $2,927,911,140,917 | $2,927,911,140,917 | -4.46% |
| 2016 | $2,689,106,566,900 | $2,984,177,105,011 | -8.16% |
| 2017 | $2,680,148,052,335 | $3,063,451,915,304 | -0.33% |
| 2018 | $2,871,340,347,582 | $3,106,499,243,232 | 7.13% |
| 2019 | $2,851,407,164,908 | $3,156,963,552,418 | -0.69% |
| 2020 | $2,696,778,386,608 | $2,831,893,577,012 | -5.42% |
| 2021 | $3,143,323,050,707 | $3,074,755,378,978 | 16.6% |
| 2022 | $3,114,042,471,144 | $3,223,545,410,806 | -0.93% |
| 2023 | $3,369,861,888,973 | $3,236,345,540,532 | 8.22% |
| 2024 | $3,643,834,188,783 | $3,271,966,955,942 | 8.13% |
Economic Statistics of the United Kingdom
United Kingdom
|
Rank | |
|---|---|---|
| Gross domestic product |
$3.64T
2024 |
6/197 |
| GDP growth |
8.13%
2023-2024 |
60/196 |
| GDP per capita |
$52,637
2024 |
23/197 |
| GDP per capita, PPP |
$60,620
2024 |
32/197 |
| Government debt |
$3.69T
2024 |
4/185 |
| Debt-to-GDP ratio |
103.9%
2025 |
19/185 |
| Government debt per person |
$53,283
2024 |
7/185 |
| Average annual personal income after taxes |
$40,805
2025 |
16/197 |
| Listed domestic companies |
1,606
2022 |
8/103 |
| Market capitalization of domestic companies |
$3.1T
2022 |
6/100 |
| Number of millionaires |
3,061,553
2024 |
3/34 |
| Millionaire frequency |
1 in 17
2024 |
10/34 |
| Number of billionaires |
55
2025 |
9/78 |
| Billionaire frequency |
1 in 967,615
2025 |
31/78 |
| Income share by richest 10% |
24.6%
2021 |
129/169 |
| Income share by poorest 10% |
3%
2021 |
63/169 |
| Government expenditure, % of GDP |
43.9%
2025 |
40/195 |
| Consumer prices inflation |
3.27%
2023-2024 |
96/195 |
| Central bank interest rate |
4%
2025 |
78/105 |
| Unemployment rate |
4.36%
2024 |
116/196 |
| Population |
69945462
|
21/197 |
United Kingdom's GDP per capita
The United Kingdom has a GDP per capita of $52,637, ranking 23/197, a GDP per capita based on purchasing power parity (PPP) of $60,620, ranking 32/197, and a median annual after tax income of $40,805, ranking 16/197.
| Year | Current $ | |
|---|---|---|
| GDP per capita | GDP per capita, PPP | |
| 1960 | $1,398 | - |
| 1961 | $1,472 | - |
| 1962 | $1,526 | - |
| 1963 | $1,613 | - |
| 1964 | $1,748 | - |
| 1965 | $1,874 | - |
| 1966 | $1,987 | - |
| 1967 | $2,059 | - |
| 1968 | $1,952 | - |
| 1969 | $2,101 | - |
| 1970 | $2,348 | - |
| 1971 | $2,650 | - |
| 1972 | $3,030 | - |
| 1973 | $3,426 | - |
| 1974 | $3,666 | - |
| 1975 | $4,300 | - |
| 1976 | $4,138 | - |
| 1977 | $4,681 | - |
| 1978 | $5,977 | - |
| 1979 | $7,805 | - |
| 1980 | $10,032 | - |
| 1981 | $9,599 | - |
| 1982 | $9,146 | - |
| 1983 | $8,692 | - |
| 1984 | $8,179 | - |
| 1985 | $8,652 | - |
| 1986 | $10,611 | - |
| 1987 | $13,119 | - |
| 1988 | $15,987 | - |
| 1989 | $16,239 | - |
| 1990 | $19,095 | $17,054 |
| 1991 | $19,901 | $17,383 |
| 1992 | $20,487 | $17,802 |
| 1993 | $18,389 | $18,633 |
| 1994 | $19,709 | $19,713 |
| 1995 | $23,169 | $20,581 |
| 1996 | $24,406 | $21,938 |
| 1997 | $26,766 | $23,065 |
| 1998 | $28,275 | $23,688 |
| 1999 | $28,762 | $24,494 |
| 2000 | $28,281 | $26,530 |
| 2001 | $27,907 | $27,916 |
| 2002 | $30,078 | $29,089 |
| 2003 | $34,443 | $30,318 |
| 2004 | $40,367 | $32,055 |
| 2005 | $42,105 | $32,726 |
| 2006 | $44,512 | $34,735 |
| 2007 | $50,398 | $35,523 |
| 2008 | $47,396 | $36,745 |
| 2009 | $38,744 | $35,023 |
| 2010 | $39,599 | $36,488 |
| 2011 | $42,110 | $37,224 |
| 2012 | $42,490 | $38,337 |
| 2013 | $43,419 | $39,948 |
| 2014 | $47,427 | $41,267 |
| 2015 | $44,984 | $42,527 |
| 2016 | $40,988 | $44,085 |
| 2017 | $40,629 | $46,113 |
| 2018 | $43,315 | $47,212 |
| 2019 | $42,794 | $50,065 |
| 2020 | $40,405 | $48,230 |
| 2021 | $46,926 | $51,004 |
| 2022 | $46,063 | $58,544 |
| 2023 | $49,201 | $57,915 |
| 2024 | $52,637 | $60,620 |
United Kingdom's government spending, deficit, and chart
This chart shows the United Kingdom's government spending, budget balance, and debt over time, each expressed as a share of GDP.
Over the past 50 years, the United Kingdom recorded a fiscal deficit in 45 years — average annual deficit equal to -4.33% of GDP. In 2024, government spending reached $1.6T (43.9% of GDP), with a deficit of -4.42%.
The national debt reached $3.69T, ranking 4th out of 185 countries by total size, with a debt-to-GDP ratio of 103.9%, ranking 19th.
| Year | % of GDP | ||
|---|---|---|---|
| Government spending | Government debt | Government deficit/surplus | |
| 1800 | - | 176.3% | - |
| 1801 | - | 179% | - |
| 1802 | - | 189.5% | - |
| 1803 | - | 192% | - |
| 1804 | - | 187% | - |
| 1805 | - | 189.2% | - |
| 1806 | - | 191.1% | - |
| 1807 | - | 192.8% | - |
| 1808 | - | 191.1% | - |
| 1809 | - | 189.3% | - |
| 1810 | - | 187.5% | - |
| 1811 | - | 182.6% | - |
| 1812 | - | 189.3% | - |
| 1813 | - | 196% | - |
| 1814 | - | 221% | - |
| 1815 | - | 224.8% | - |
| 1816 | - | 237.8% | - |
| 1817 | - | 232.6% | - |
| 1818 | - | 258% | - |
| 1819 | - | 259% | - |
| 1820 | - | 259.9% | - |
| 1821 | - | 260.9% | - |
| 1822 | - | 246.4% | - |
| 1823 | - | 238.4% | - |
| 1824 | - | 225.2% | - |
| 1825 | - | 212.7% | - |
| 1826 | - | 200.8% | - |
| 1827 | - | 192% | - |
| 1828 | - | 183.5% | - |
| 1829 | - | 173.3% | - |
| 1830 | 11.8% | 165.6% | 0.45% |
| 1831 | 11.5% | 164.6% | 0% |
| 1832 | 12.2% | 169.9% | 0% |
| 1833 | 11.9% | 172.2% | 0.24% |
| 1834 | 11.1% | 162.2% | 0.23% |
| 1835 | 10.2% | 151.6% | 0.42% |
| 1836 | 9.85% | 145.8% | 0.59% |
| 1837 | 10.5% | 151.6% | -0.21% |
| 1838 | 10% | 142.9% | -0.19% |
| 1839 | 9.65% | 135.7% | -0.18% |
| 1840 | 10.4% | 144.7% | -0.2% |
| 1841 | 11.2% | 151.9% | -0.42% |
| 1842 | 12% | 158% | -0.87% |
| 1843 | 12% | 158.6% | 0.44% |
| 1844 | 10.9% | 145.5% | 0.59% |
| 1845 | 10.1% | 137.4% | 0.56% |
| 1846 | 9.48% | 128.7% | 0.52% |
| 1847 | 9.77% | 123.8% | -6.13% |
| 1848 | 10.2% | 128.7% | -0.17% |
| 1849 | 9.36% | 126.4% | 0.34% |
| 1850 | 10.3% | 138.1% | 0.37% |
| 1851 | 9.56% | 131.4% | 0.35% |
| 1852 | 9.62% | 130.1% | 0.35% |
| 1853 | 9.42% | 115% | 0.5% |
| 1854 | 13.4% | 107.2% | -3.39% |
| 1855 | 14.4% | 105.5% | -3.57% |
| 1856 | 11.3% | 105.3% | -0.6% |
| 1857 | 10.2% | 104% | -0.15% |
| 1858 | 10% | 107.7% | -0.15% |
| 1859 | 10.2% | 102% | 0% |
| 1860 | 10.5% | 99.8% | -0.43% |
| 1861 | 9.69% | 95.6% | -0.4% |
| 1862 | 9.27% | 93% | -0.13% |
| 1863 | 8.54% | 89.3% | 0% |
| 1864 | 8.03% | 83.6% | 0.24% |
| 1865 | 7.6% | 81% | 0% |
| 1866 | 7.45% | 76.5% | 0.11% |
| 1867 | 8.11% | 77.8% | -0.45% |
| 1868 | 8.46% | 74.9% | -0.45% |
| 1869 | 7.42% | 74.6% | 0.77% |
| 1870 | 7.03% | 70.5% | 0% |
| 1871 | 6.8% | 64.3% | 0.29% |
| 1872 | 6.31% | 60.7% | 0.55% |
| 1873 | 6.33% | 57% | 0% |
| 1874 | 6.33% | 57.4% | 0.09% |
| 1875 | 6.63% | 57.8% | 0% |
| 1876 | 6.86% | 59.4% | 0.09% |
| 1877 | 7.25% | 60% | -0.18% |
| 1878 | 7.66% | 61.7% | -0.18% |
| 1879 | 7.84% | 64.8% | -0.86% |
| 1880 | 6.21% | 65.4% | 0.1% |
| 1881 | 6.82% | 64.4% | 0.06% |
| 1882 | 7% | 61.5% | 0.02% |
| 1883 | 6.49% | 61.5% | 0.06% |
| 1884 | 6.88% | 56.1% | -0.04% |
| 1885 | 7.51% | 57.8% | -0.21% |
| 1886 | 7.33% | 57.5% | 0.07% |
| 1887 | 6.87% | 55.4% | 0.25% |
| 1888 | 6.8% | 51.3% | 0.27% |
| 1889 | 6.81% | 47.1% | 0.3% |
| 1890 | 6.8% | 45.9% | 0.23% |
| 1891 | 6.86% | 46.4% | 0.19% |
| 1892 | 6.88% | 47.5% | 0.14% |
| 1893 | 7.26% | 47.4% | -0.007% |
| 1894 | 7.04% | 44.1% | 0.06% |
| 1895 | 7.3% | 43.1% | 0.3% |
| 1896 | 7.22% | 41.1% | 0.17% |
| 1897 | 7.46% | 40.4% | 0.25% |
| 1898 | 7.28% | 37.8% | 0.01% |
| 1899 | 8.21% | 35.1% | -0.79% |
| 1900 | 10.8% | 32.4% | -2.96% |
| 1901 | 10.7% | 35.8% | -2.74% |
| 1902 | 10.5% | 39% | -1.77% |
| 1903 | 8.43% | 41.2% | -0.22% |
| 1904 | 7.97% | 40.7% | 0.2% |
| 1905 | 7.59% | 39% | 0.36% |
| 1906 | 7.34% | 37.4% | 0.58% |
| 1907 | 7.18% | 35.3% | 0.66% |
| 1908 | 7.32% | 35.7% | 0.34% |
| 1909 | 7.8% | 34.9% | -1.25% |
| 1910 | 8.18% | 34.5% | 1.75% |
| 1911 | 8.05% | 31.6% | 0.51% |
| 1912 | 8.34% | 29.8% | 0.22% |
| 1913 | 8.17% | 27.9% | 0.25% |
| 1914 | 24.6% | 27.3% | -14.6% |
| 1915 | 42.3% | 39.3% | -30% |
| 1916 | 68.4% | 65.6% | -50.6% |
| 1917 | 66.2% | 97.8% | -48.8% |
| 1918 | 52.5% | 119.1% | -34.4% |
| 1919 | 32.1% | 142.8% | -6.28% |
| 1920 | 21% | 137.8% | 4.2% |
| 1921 | 22.4% | 158.4% | 1.15% |
| 1922 | 19.5% | 183.5% | 2.45% |
| 1923 | 19% | 195.5% | 2.23% |
| 1924 | 18.6% | 188.8% | 1.19% |
| 1925 | 18.1% | 177% | 0.84% |
| 1926 | 19.4% | 187.1% | 0.6% |
| 1927 | 18.2% | 177.5% | 1.62% |
| 1928 | 17.8% | 175.8% | 1.75% |
| 1929 | 17.8% | 170.5% | 0.75% |
| 1930 | 18.7% | 171% | 1.01% |
| 1931 | 20.5% | 184.8% | 0.8% |
| 1932 | 21.3% | 190.1% | -0.15% |
| 1933 | 19.6% | 194% | 0.99% |
| 1934 | 18.8% | 186.6% | 0.48% |
| 1935 | 19% | 178.1% | 0.37% |
| 1936 | 19.4% | 170.2% | 0.17% |
| 1937 | 18.5% | 158.7% | 0.82% |
| 1938 | 19.5% | 155.1% | 0% |
| 1939 | 20.3% | 149.7% | -2.99% |
| 1940 | 28.4% | 121.1% | -12.1% |
| 1941 | 50.5% | 133.7% | -32% |
| 1942 | 56.6% | 153.2% | -31.6% |
| 1943 | 62.2% | 174% | -33.3% |
| 1944 | 62.9% | 200.6% | -29.7% |
| 1945 | 66.9% | 234.7% | -30.9% |
| 1946 | 60.8% | 269.8% | -22.5% |
| 1947 | 50.5% | 264.1% | -15.8% |
| 1948 | 36.7% | 239.6% | -0.39% |
| 1949 | 32.6% | 220.3% | 3.01% |
| 1950 | 33.2% | 216.9% | 0.34% |
| 1951 | 28.8% | 196.8% | 2.03% |
| 1952 | 32.9% | 180.9% | -1.26% |
| 1953 | 32.6% | 169.8% | -2.84% |
| 1954 | 34.5% | 163.2% | -1.65% |
| 1955 | 28.6% | 154.2% | -0.39% |
| 1956 | 31% | 143.8% | 0.55% |
| 1957 | 32.6% | 135.7% | -1.04% |
| 1958 | 33.8% | 131.1% | -1.73% |
| 1959 | 32.6% | 124.9% | -0.58% |
| 1960 | 33.1% | 117.9% | -2.75% |
| 1961 | 31.5% | 113.8% | 0.56% |
| 1962 | 33.8% | 110.5% | -0.49% |
| 1963 | 37.4% | 108.6% | -5.47% |
| 1964 | 32.8% | 101.1% | -1.76% |
| 1965 | 34.6% | 94.6% | -2.06% |
| 1966 | 35.7% | 91.9% | -1.59% |
| 1967 | 40.1% | 89.1% | -4.57% |
| 1968 | 40.3% | 88.5% | -2.3% |
| 1969 | 39.2% | 82.8% | 1.03% |
| 1970 | 42% | 73.4% | 2.61% |
| 1971 | 41.2% | 67.9% | 1.48% |
| 1972 | 42.3% | 65% | -1.66% |
| 1973 | 43.5% | 58.5% | -4.29% |
| 1974 | 47.8% | 56.2% | -4.06% |
| 1975 | 49.1% | 49.6% | -5.08% |
| 1976 | 49.2% | 47.7% | -5.61% |
| 1977 | 46.8% | 53.7% | -4.41% |
| 1978 | 46.2% | 47.3% | -6.63% |
| 1979 | 45.1% | 44.5% | -5.79% |
| 1980 | 47.6% | 43.7% | -5.65% |
| 1981 | 51.2% | 41.1% | -7.03% |
| 1982 | 50.8% | 44.7% | -5.66% |
| 1983 | 50.4% | 44.2% | -6.26% |
| 1984 | 50.3% | 44.1% | -6.39% |
| 1985 | 48.7% | 42.9% | -5.57% |
| 1986 | 44.6% | 42.9% | -2.56% |
| 1987 | 42.7% | 41.8% | -1.79% |
| 1988 | 40.3% | 36.6% | 0.46% |
| 1989 | 39.7% | 31.4% | 0.77% |
| 1990 | 35% | 28.5% | -1.54% |
| 1991 | 35.9% | 28.5% | -2.77% |
| 1992 | 37.8% | 33.2% | -5.41% |
| 1993 | 37.8% | 38% | -6.62% |
| 1994 | 37.5% | 40.7% | -5.74% |
| 1995 | 37.6% | 43.7% | -4.99% |
| 1996 | 35.7% | 43.7% | -3.65% |
| 1997 | 34.9% | 44.1% | -2.01% |
| 1998 | 34.5% | 42% | -0.21% |
| 1999 | 33.9% | 40.4% | 0.76% |
| 2000 | 33.9% | 37.7% | 1.4% |
| 2001 | 34.7% | 35% | 0.34% |
| 2002 | 35.9% | 35.4% | -1.96% |
| 2003 | 37.2% | 36.8% | -3.22% |
| 2004 | 38% | 39.8% | -3.16% |
| 2005 | 38.4% | 41% | -3.15% |
| 2006 | 38.4% | 42.1% | -2.76% |
| 2007 | 38.7% | 43.2% | -2.65% |
| 2008 | 41% | 50.8% | -5.09% |
| 2009 | 44.6% | 64.9% | -10.1% |
| 2010 | 44.7% | 75.9% | -9.22% |
| 2011 | 43.5% | 81.4% | -7.38% |
| 2012 | 43.6% | 84.5% | -7.45% |
| 2013 | 41.8% | 85.3% | -5.34% |
| 2014 | 41.2% | 87.1% | -5.53% |
| 2015 | 40.4% | 87.9% | -4.59% |
| 2016 | 39.6% | 87.8% | -3.31% |
| 2017 | 39.2% | 86.7% | -2.49% |
| 2018 | 38.9% | 86.3% | -2.27% |
| 2019 | 38.8% | 85.7% | -2.47% |
| 2020 | 50% | 105.8% | -13.2% |
| 2021 | 45.8% | 105.1% | -7.72% |
| 2022 | 44.1% | 99.6% | -4.56% |
| 2023 | 44.8% | 100.4% | -6.05% |
| 2024 | 44% | 101.2% | -5.75% |
| 2025 | 43.9% | 103.9% | -4.42% |
Inflation rate by year
Over the past 20 years, the United Kingdom has had an average annual inflation rate of 2.73%. In 2024, inflation was 3.27%. The bar chart below shows consumer price inflation by year.
| Year | Inflation |
|---|---|
| 1960 | 1% |
| 1961 | 3.45% |
| 1962 | 4.2% |
| 1963 | 2.02% |
| 1964 | 3.28% |
| 1965 | 4.77% |
| 1966 | 3.91% |
| 1967 | 2.48% |
| 1968 | 4.7% |
| 1969 | 5.45% |
| 1970 | 6.37% |
| 1971 | 9.44% |
| 1972 | 7.07% |
| 1973 | 9.2% |
| 1974 | 16% |
| 1975 | 24.2% |
| 1976 | 16.6% |
| 1977 | 15.8% |
| 1978 | 8.26% |
| 1979 | 13.4% |
| 1980 | 18% |
| 1981 | 11.9% |
| 1982 | 8.6% |
| 1983 | 4.61% |
| 1984 | 4.96% |
| 1985 | 6.07% |
| 1986 | 3.43% |
| 1987 | 4.15% |
| 1988 | 4.16% |
| 1989 | 5.76% |
| 1990 | 8.06% |
| 1991 | 7.46% |
| 1992 | 4.59% |
| 1993 | 2.56% |
| 1994 | 2.22% |
| 1995 | 2.7% |
| 1996 | 2.85% |
| 1997 | 2.2% |
| 1998 | 1.82% |
| 1999 | 1.75% |
| 2000 | 1.18% |
| 2001 | 1.53% |
| 2002 | 1.52% |
| 2003 | 1.38% |
| 2004 | 1.39% |
| 2005 | 2.09% |
| 2006 | 2.46% |
| 2007 | 2.39% |
| 2008 | 3.52% |
| 2009 | 1.96% |
| 2010 | 2.49% |
| 2011 | 3.86% |
| 2012 | 2.57% |
| 2013 | 2.29% |
| 2014 | 1.45% |
| 2015 | 0.37% |
| 2016 | 1.01% |
| 2017 | 2.56% |
| 2018 | 2.29% |
| 2019 | 1.74% |
| 2020 | 0.99% |
| 2021 | 2.52% |
| 2022 | 7.92% |
| 2023 | 6.79% |
| 2024 | 3.27% |
Balance of trade
|
United Kingdom
|
Rank | |
|---|---|---|
Current account balance
|
-$96.6B
2024 |
188/189 |
| Current account balance, % of GDP |
-2.65%
2024 |
111/189 |
| Goods imports |
$756B
2024 |
4/188 |
| Goods exports |
$467B
2024 |
13/188 |
| Service imports |
$402B
2024 |
5/188 |
| Service exports |
$649B
2024 |
2/188 |
| Imports of goods and services, % of GDP |
31.8%
2024 |
123/180 |
| Exports of goods and services, % of GDP |
30.6%
2024 |
109/193 |
The United Kingdom's top 10 trading partners
The United Kingdom's biggest trading partner accounting for 18%% of all exports and imports is the United States, with a trade balance between the two of +$56.9B — the UK exports $209B worth of goods and services to the United States and imports $152B.
Below is the list of the top 10 trade partners of the United Kingdom.
| Rank | Country | Trade value | Share of total trade | Export to | Import from | Top export to | Top import from |
|---|---|---|---|---|---|---|---|
| 1 |
United States
|
$361B | 18% | $209B | $152B | Business & finance services | Business & finance services |
| 2 |
China
|
$162B | 8.07% | $58.8B | $103B | Precious metals & jewellery | Machinery & equipment |
| 3 |
Germany
|
$157B | 7.85% | $66.6B | $90.7B | Machinery & equipment | Machinery & equipment |
| 4 |
France
|
$108B | 5.4% | $50B | $58.3B | Machinery & equipment | Machinery & equipment |
| 5 |
Netherlands
|
$93.1B | 4.65% | $56.2B | $36.9B | Business & finance services | Raw materials & minerals |
| 6 |
Ireland
|
$91.8B | 4.58% | $59.3B | $32.6B | Business & finance services | Business & finance services |
| 7 |
Switzerland
|
$77.5B | 3.87% | $47.3B | $30.2B | Precious metals & jewellery | Precious metals & jewellery |
| 8 |
Spain
|
$73.1B | 3.65% | $22.7B | $50.4B | Transport & tourism services | Transport & tourism services |
| 9 |
Italy
|
$58.7B | 2.93% | $19.3B | $39.4B | Machinery & equipment | Machinery & equipment |
| 10 |
Belgium
|
$51.5B | 2.57% | $30.4B | $21.1B | Chemicals & pharma | Chemicals & pharma |
United Kingdom's top 10 exports
|
United Kingdom
|
Rank | |
|---|---|---|
| Business & finance services | $301B | 2/188 |
| Machinery & equipment | $204B | 11/193 |
| Transport & tourism services | $119B | 4/188 |
| Precious metals & jewellery | $88.2B | 3/190 |
| IT & IP services | $70.3B | 5/183 |
| Chemicals & pharma | $67.5B | 13/193 |
| Raw materials & minerals | $41.6B | 29/193 |
| Metals | $26.9B | 18/192 |
| Miscellaneous | $22.7B | 7/191 |
| Processed food, beverages & tobacco | $22.3B | 16/192 |
United Kingdom's top 10 imports
|
United Kingdom
|
Rank | |
|---|---|---|
| Machinery & equipment | $296B | 5/193 |
| Transport & tourism services | $163B | 3/188 |
| Business & finance services | $141B | 3/188 |
| Precious metals & jewellery | $98.4B | 5/193 |
| Raw materials & minerals | $97.4B | 9/193 |
| Chemicals & pharma | $80.7B | 9/193 |
| Textiles & consumer goods | $63.8B | 5/193 |
| Processed food, beverages & tobacco | $50.7B | 3/193 |
| Miscellaneous | $35.8B | 3/193 |
| IT & IP services | $34.6B | 10/182 |
Economic freedom indices
|
United Kingdom
|
Rank | |
|---|---|---|
| Economic freedom | 69.3 | 39/197 |
| Property rights | 95.2 | 11/182 |
| Government integrity | 83.4 | 11/182 |
| Judicial effectiveness | 84.8 | 11/182 |
| Tax burden | 61 | 165/181 |
| Government spending | 40.1 | 154/180 |
| Fiscal health | 19 | 156/181 |
| Business freedom | 83.4 | 21/182 |
| Labor freedom | 63.2 | 42/182 |
| Monetary freedom | 67.9 | 128/180 |
| Trade freedom | 83.4 | 16/181 |
| Investment freedom | 70 | 45/181 |
| Financial freedom | 80 | 13/181 |
United Kingdom's economic freedom by year
The United Kingdom is ranked 33/180 for economic freedom with a score of 69.3, compared to 6/163 and a score of 79.2 in 2005.
| Year | Index | ||||
|---|---|---|---|---|---|
| Economic freedom | Judicial effectiveness | Tax burden | Government spending | Fiscal health | |
| 1995 | 77.9 | - | 61.3 | 37.3 | - |
| 1996 | 76.4 | - | 62.1 | 37.3 | - |
| 1997 | 76.4 | - | 61.7 | 39.3 | - |
| 1998 | 76.5 | - | 60.8 | 40.3 | - |
| 1999 | 76.2 | - | 62.3 | 44.5 | - |
| 2000 | 77.3 | - | 62.5 | 49.6 | - |
| 2001 | 77.6 | - | 61.7 | 52 | - |
| 2002 | 78.5 | - | 61.5 | 58.9 | - |
| 2003 | 77.5 | - | 60.9 | 51 | - |
| 2004 | 77.7 | - | 61.2 | 50.1 | - |
| 2005 | 79.2 | - | 62.3 | 43.5 | - |
| 2006 | 80.4 | - | 62.3 | 43.5 | - |
| 2007 | 79.9 | - | 62 | 42.7 | - |
| 2008 | 79.4 | - | 61.2 | 40.1 | - |
| 2009 | 79 | - | 61 | 40.3 | - |
| 2010 | 76.5 | - | 61.8 | 41.9 | - |
| 2011 | 74.5 | - | 52 | 32.9 | - |
| 2012 | 74.1 | - | 56.4 | 21.5 | - |
| 2013 | 74.8 | - | 57 | 27.7 | - |
| 2014 | 74.9 | - | 56.6 | 29.5 | - |
| 2015 | 75.8 | - | 62.9 | 30.3 | - |
| 2016 | 76.4 | - | 64.9 | 39 | - |
| 2017 | 76.4 | 93 | 65.1 | 41.9 | 40.4 |
| 2018 | 78 | 93.8 | 65.2 | 44.4 | 53.5 |
| 2019 | 78.9 | 85.9 | 64.7 | 48.2 | 68.6 |
| 2020 | 79.3 | 82.7 | 64.7 | 49.5 | 78.1 |
| 2021 | 78.4 | 76.7 | 64.9 | 54.8 | 77.3 |
| 2022 | 72.7 | 85.9 | 65.4 | 46.3 | 22.6 |
| 2023 | 69.9 | 86.4 | 65.4 | 41.9 | 1.8 |
| 2024 | 68.6 | 84.3 | 62.3 | 34.3 | 0 |
| 2025 | 69.3 | 84.8 | 61 | 40.1 | 19 |
More economic indicators
|
United Kingdom
|
Rank | |
|---|---|---|
| Services, % of GDP |
72.8%
2024 |
17/191 |
| Industry, % of GDP |
16.7%
2024 |
154/194 |
| Agriculture, forestry, and fishing, % of GDP |
0.56%
2024 |
181/193 |
|
GNI, Atlas method
|
$3.37T
2024 |
6/194 |
| GNI per capita, PPP |
$60,090
2024 |
27/191 |
| Total reserves including gold |
$175B
2024 |
19/177 |
|
Net foreign direct investment
|
$64.8B
2024 |
4/188 |
|
Net inflows of foreign direct investment
|
$3.5B
2024 |
54/193 |
|
Net outflows of foreign direct investment
|
$68.3B
2024 |
7/187 |
| Poverty at national poverty lines |
18.6%
2017 |
112/176 |
|
Gross capital formation, % of GDP
|
17.9%
2024 |
141/176 |
Compare countries by 7 more topics
GDP per capita map
GDP per capita
Relevant pages:
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Economy comparisons
The current account balance is the sum of net trade in goods and services, net earnings from cross-border investments, and net transfer payments. It reflects a country's economic transactions with the rest of the world and is a fundamental component of the balance of payments. A surplus indicates that a country exports more than it imports, while a deficit shows the opposite.
Gross National Income (GNI) measures a country's total income. It encompasses income earned by residents, businesses, and foreign sources, defined as employee compensation and investment profits. GNI adds product taxes not included elsewhere and subtracts subsidies. It accounts for income from residents working abroad but excludes earnings from foreigners within the country.
A negative value for Net Foreign Direct Investment indicates a country is a net receiver of investments, as foreign inflows exceed outflows after Balance of Payments adjustments. A positive value indicates a net provider, with outflows exceeding inflows. Inflows are credits (increasing foreign claims on domestic assets), while outflows are debits (increasing domestic assets abroad).
Foreign direct investment (FDI, net inflows) shows how much capital foreign investors bring into a country after accounting for any funds that flow back in the opposite direction. It represents the net value of overseas companies establishing, expanding, or financing businesses in the reporting country. A positive number means more capital entered the country than was withdrawn, while a negative number means foreign investors pulled out more than they invested.
Foreign direct investment (FDI, net outflows) shows how much capital residents of a country invest abroad after accounting for any funds that flow back in the opposite direction. It represents the net value of domestic companies establishing, expanding, or financing businesses in other countries. A positive number means more capital was invested abroad than withdrawn, while a negative number means residents pulled back more than they invested.
Formerly gross domestic investment, gross capital formation measures the share of a country’s economic output invested in fixed assets, including buildings, machinery, and infrastructure. It indicates how much of the economy is devoted to building productive capacity.